NIC Asia Bank Announces No Dividend Distribution for Last Financial Year

NIC Asia Bank Limited has announced that it will not distribute any dividends from the profits of the last financial year. The bank’s Board of Directors, in a meeting held on Magh 29, decided not to distribute any dividends and sent the financial report for approval to Nepal Rastra Bank.

In the previous fiscal year 2079/80, the bank had distributed 29% bonus shares and 1.53% cash dividends to its shareholders. Since then, the bank has not distributed any dividends. However, the bank is now preparing to issue 50% rights shares.